HomeMy WebLinkAboutOrd 2026-5063_FY26-27 Budget adjustmentORDINANCE 2026-5063
AN ORDINANCE APPROVING AN AMENDMENT TO THE BUDGET FOR THE CITY
OF LA PORTE, TEXAS, FOR THE PERIOD OF OCTOBER 1, 2026, THROUGH
SEPTEMBER 30, 2027; FINDING THAT ALL THINGS REQUISITE AND NECESSARY
HAVE BEEN DONE IN PREPARATION AND PRESENTMENT OF SAID BUDGET;
FINDING COMPLIANCE WITH THE OPEN MEETINGS LAW; AND PROVIDING AN
EFFECTIVE DATE HEREOF
WHEREAS, the Charter of the City of La Porte, Texas, and the Statutes of the State of Texas,
require that an annual budget be prepared and presented to the City Council of the City of La Porte,
Texas, prior to the beginning of the fiscal year of said City, and that a public hearing be held prior
to the adoption of said budget; and
WHEREAS, the budget for the fiscal year October 1, 2026, through September 30, 2027, (the
"Budget" herein) has heretofore been presented to the City Council and due deliberation had
thereon, was filed in the office of the City Secretary on July 27, 2026, and a public hearing
scheduled for September 14, 2026, was duly advertised and held, and said Budget was finally
approved by ordinance on September 14, 2026; and
WHEREAS, Subsection (b) of Section 102.009 of the Texas Local Government Code provides
that, after final adoption of the budget, the governing body of the municipality may spend
municipal funds only in strict compliance with the budget, except in emergency, where in such
cases the governing body of the municipality may authorize an emergency expenditure as an
amendment to the original budget only in the case of grave public necessity to meet an unusual
and unforeseen condition that could not have been included in the original budget through the use
of reasonably diligent thought and attention; and
WHEREAS, Section 102.010 of the Texas Local Government Code provides that the governing
body of a municipality may make changes to its budget for municipal purposes; and
WHEREAS, the adoption of this ordinance and the amendment of the Budget is necessary for and
in the best interest of the health, safety and general welfare of the inhabitants of the City.
NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
LA PORTE, TEXAS:
SECTION 1. The City Council finds that a grave public necessity exists and in order to meet an
unusual and unforeseen condition that could not have been included in the original Budget through
the use of reasonably diligent thought and attention, the Budget must be amended and revised with
respect to those appropriations set forth in Exhibit C, attached hereto by reference and made part
hereof. In support thereof, the City Council finds that additional expenditure is necessary for the
following purpose: Appropriation in the amount of $1,343,478.00 in the 2021 CO Bonds fund
(Fund 053) to cover the calculated arbitrage rebate payment due to the Internal Revenue Service.
Such additional expenditures are more specifically described on Exhibit C.
SECTION 2. That the Budget for the City of La Porte, Texas, now before the said City Council
for consideration, a complete copy of which is on file with the City Secretary and a summary of
which is attached hereto by reference as Exhibit "A", is hereby amended as reflected on the
amended budget summary document, attached hereto by reference as Exhibit "B", as the Budget
for the said City of La Porte, Texas, for the period of October 1, 2026, through September 30,
2027.
SECTION 3. The several amounts stated in Exhibit C as the requested additional expenditures are
hereby appropriated to and for the objects and purposes therein named and are found to be for
municipal purposes.
SECTION 4. The amended and revised expenditures contained in the Budget, do not exceed the
resources of each fund, as so amended and revised.
SECTION 5. The City Council finds that all things requisite and necessary to the adoption of said
Budget and the amendments made hereto have been performed as required by charter or statute.
SECTION 6. Upon the passage and adoption of this ordinance, a copy of the ordinance shall be
filed with the City Secretary, who shall attach a copy of same to the original budget.
SECTION 7. The City Council officially finds, determines, recites and declares that a sufficient
written notice of the date, hour, place and subject of this meeting of the City Council was posted
at a place convenient to the public at the City Hall of the City for the time required by law preceding
this meeting, as required by the Open Meetings Law, Chapter 551, Texas Government Code; and
that this meeting has been open to the public as required by law at all times during which this
Ordinance and the subject matter thereof has been discussed, considered and formally acted upon.
The City Council further ratifies, approves and confirms such written notice and the contents and
posting thereof.
SECTION S. This ordinance shall be in effect from and after its passage and approval.
PASSED AND APPROVED this the 12th day of October 2026.
CITY OF L
Rick Helton, Mayor
APPROVED AS TO FORM:
Clark T. Askins, City Attorney
EXHIBIT A
(ADOPTED BUDGET)
City of La Porte
Consolidated Summary of All Funds
FY 26-27 FY 26-27
Revenues Expenses
Governmental Fund Types:
General Fund 85,106,047 93,086,567
Grant Fund 7,700,381 7,925,050
Street Maintenance Sales Tax 3,136,268 2,615,000
Emergency Services District 3,066,379 3,929,393
Hotel/Motel Occupancy Tax 728,009 970,311
Economic Development Corp. 6,339,070 4,901,062
Tax Increment Reinvestment 11,587,284 11,303,768
Total Governmental Types 117,663,438 124,731,150
Enterprise:
Utility 10,615,469 10,377,584
Airport 89,783 315,104
La Porte Area Water Authority 1,585,796 2,511,576
Total Enterprise 12,291,048 13,204,264
Internal Service
Motor Pool 9,795,871 4,425,845
Insurance Fund 15,016,591 15,502,823
Technology Fund 580,115 586,000
Total Internal Service 25,392,577 20,514,668
Capital Improvement:
General 19,225,597 20,833,050
Utility 3,171,782 3,795,000
Sewer Rehabilitation 320,174 400,000
Drainage Improvement Fund 2,495,426 5,070,000
Texas Water Development 304,074
2021 Certificates of Obligation 40,000
2025 Certificates of Obligation 285,216
Total Capital Improvement 25,842,269 30,098,050
Debt Service:
General 6,563,406 6,405,142
Total Debt Service 6,563,406 6,405,142
Total All Funds
187,752,738 194,953,274
EXHIBIT B
(AMENDED BUDGET)
City of La Porte
Consolidated Summary of All Funds
FY 26-27 FY 26-27
Revenues Expenses
Governmental Fund Types:
General Fund 85,106,047 93,086,567
Grant Fund 7,700,381 7,925,050
Street Maintenance Sales Tax 3,136,268 2,615,000
Emergency Services District 3,066,379 3,929,393
Hotel/Motel Occupancy Tax 728,009 970,311
Economic Development Corp. 6,339,070 4,901,062
Tax Increment Reinvestment 11,587,284 11,303,768
Total Governmental Types 117,663,438 124,731,150
Enterprise:
Utility 10,615,469 10,377,584
Airport 89,783 315,104
La Porte Area Water Authority 1,585,796 2,511,576
Total Enterprise 12,291,048 13,204,264
Internal Service
Motor Pool 9,795,871 4,425,845
Insurance Fund 15,016,591 15,502,823
Technology Fund 580,115 586,000
Total Internal Service 25,392,577 20,514,668
Capital Improvement:
General 19,225,597 20,833,050
Utility 3,171,782 3,795,000
Sewer Rehabilitation 320,174 400,000
Drainage Improvement Fund 2,495,426 5,070,000
Texas Water Development 304,074 -
2021 Certificates of Obligation 40,000 1,343,478
2025 Certificates of Obligation 285,216 -
Total Capital Improvement 25,842,269 31,441,528
Debt Service:
General 6,563,406 6,405,142
Total Debt Service 6,563,406 6,405,142
Total All Funds
187,752,738 196,296,752
City of La Porte, Texas ("Issuer")
604 West Fairmont Parkway
La Porte, Texas 77571
Exhibit C
CONTROL #25.00
CITY OF LA PORTE, TEXAS
$11,545,000.00
CERTIFICATES OF OBLIGATION, SERIES 2021
ARBITRAGE REBATE CALCULATIONS
FOR THE 05TH YEAR COMPUTATION PERIOD
AUGUST 10, 2021 TO AUGUST 10, 2026
AS OF THE DATE OF THIS REPORT
SEPTEMBER 22, 2026
ARBITRAGE
COMPLIANCE
SPECIALISTSI
.I\NCESERVICES
We have enclosed the arbitrage rebate calculation report for the above -referenced issue of tax-exempt
debt ("Debt"). The computations following as Exhibits have been performed by ACS and are based upon the
limited scope of ACS' engagement with information, instructions, assumptions and representations as
provided to ACS by the Issuer. Using procedures, which ACS has developed for calculating arbitrage rebate,
ACS has computed the amount of the Rebatable Arbitrage with respect to the Debt for the Computation
Period in accordance with the applicable provisions of the Internal Revenue Code of 1986, as amended and
the Treasury Regulations applicable to the Debt.
As detailed in Exhibit 1 of this report, a Rebate Installment payment is due to the United States
Treasury, Internal Revenue Service ('IRS"), with respect to the Debt for the above -referenced 05th Year
Rebate Installment Computation Period. The following should be sent to the IRS after receiving a validated
postmarked "Proof of Mailing" receipt.
To Be Received by the IRS: Friday, October 9, 2026
100% Rebate Installment payment is due to the IRS as per Form $1,343,477.71
8038-T, Part II, Line 13
It has been an honor for all of us at ACS to assist you with your arbitrage rebate calculations. Should
you have any questions regarding this Review and related matters please do not hessitate to call: Account
Manager: Matt Collins at (800) 672-9993 ext. 7538 or Lead CPA: Doug Pahnke at (800) 672-9993 ext.
7526.
Regards,
Arbitrage Compliance Specialists, Inc.
j'. IZL
Douglas Pahnke, CPA, President
Arbitrage Compliance Specialists, Inc.
6065 S. Quebec Street, Suite 201 1 Centennial, Colorado 80111 1800.672.9993 I www.rebatebyacs.com